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Firms stop producing DVDs and start producing Blu-ray discs because people prefer Blu-ray discs ...

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Firms stop producing DVDs and start producing Blu-ray discs because people prefer Blu-ray discs ...

Question 1.

Partial equilibrium analysis refers to ________ examining the equilibrium conditions in individual markets and for households and firms.

▸ separately

▸ jointly

▸ partially

▸ simultaneously

Question 2.

Firms stop producing DVDs and start producing Blu-ray discs because people prefer Blu-ray discs discs to DVDs. This will

▸ make the distribution of outcome more equitable.

▸ make the economy more stable.

▸ improve efficiency.

▸ make the economy less stable.

Textbook

Principles of Economics

Edition: 12^th

Authors: Case, Fair, Oster

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